LTC’s 3-Year Slump Might End… But Will the SEC Finally Say Yes? 🚀💸

by

Litecoin price made a dramatic leap of over 7% on Monday, August 4, and was hovering near its highest level since March this year. 🎯 (For those keeping score at home, that’s roughly the same as a toddler’s tantrum but with more crypto.)

80%? The SEC must be on a coffee kick. ☕

  • Technicals suggest LTC might finally stop acting like a sleepy sloth. 🐢📈

    • Litecoin (LTC) jumped to a high of $120, up by nearly 90% from its lowest level this year. Its daily volume surged to nearly $900 million, while its market cap soared to $9 billion. (For context, that’s enough to buy a small island… if the SEC lets you.)

    LTC ETF approval odds jump to 80%

    Litecoin price rose on Monday as investors remained optimistic that the Securities and Exchange Commission will approve LTC funds by Grayscale, CoinShares, and Canary Capital. 🤞 (Or maybe they’re just tired of saying “no.”)

    Polymarket data shows that the odds of the agency approving these funds have risen to 80%. The SEC has set deadlines of October 2 for Canary’s ETF application, and October 10 and 23 for the Grayscale and CoinShares funds, respectively. (Translation: “We’re not ignoring you… just very, very busy.”)

    Expectations are based on the agency’s prior approval of spot Bitcoin (BTC) ETFs, which have attracted over $55 billion in inflows. Litecoin is similar to Bitcoin in that it is a proof-of-work coin with a supply cap of 84 million. Bitcoin has a cap of 21 million coins. (Because obviously, 84 million is just 4x more. What’s next? 168 million?)

    Litecoin is also highly decentralized and liquid, with daily trading volume rising to over $1 billion on some days. (Sure, why not. Let’s all just throw money at a coin with a name that sounds like a 90s boy band.)

    There are also signs that an LTC ETF would attract institutional capital. For example, the Grayscale Litecoin Trust, which charges an annual fee of 2.50%, has already attracted over $246 million in assets. (Because nothing says “investment” like paying 2.5% to hold a coin that’s basically a meme.)

    Recent data shows that demand for altcoin ETFs is still vibrant. Ethereum (ETH) have had a cumulative inflow of over $10 billion, while popular XRP and Solana funds like XXRP, UXRP, and SSK have had millions of dollars in inflows. (Welcome to the crypto version of a buffet. Everyone’s eating, but no one’s sure what they’re actually consuming.)

    Litecoin price technical analysis

    The daily timeframe shows that LTC has been in a three-year consolidation phase. It has remained within the resistance level at $140 and the support level at $41 since June 2022. (Like a toddler in a timeout, but with more math.)

    This prolonged consolidation mirrors that of XRP, which remained inside a narrow range for years before its recent breakout. (Because nothing says “excitement” like a coin that’s been stagnant for ages.)

    Litecoin price has moved above the 50-week and 100-week moving averages. It is also nearing the 23.6% Fibonacci retracement level at $130, while the Relative Strength Index has jumped above the neutral point at 50. (Because nothing says “bull market” like a number that’s just barely above 50.)

    Therefore, the token could continue rising as bulls target the upper side of the channel. A break above that resistance would point to further gains to $227.80, up by 92% from the current level. A drop below the support at $93 would invalidate the bullish forecast. (Translation: “Hope for the best, but expect the SEC to crash the party again.”)

    Read More

    2025-08-04 20:28